Govt hikes petrol price by Rs2, diesel by Rs8

Govt hikes petrol price

Islamabad, February 15, 2023: The caretaker government, acting on the recommendation of the Oil and Gas Regulatory Authority (OGRA), has given the green light to a rise in petrol prices by Rs2.73 per liter for the upcoming fortnight.

As per a notification issued by the finance ministry, the new prices entail an increase of Rs2.73 per liter for petrol and Rs8.37 per liter for High-Speed Diesel (HSD).

Effective from February 16, the revised price for petrol will be Rs275.62 per liter, while High-Speed Diesel (HSD) will now cost Rs287.33 per liter, as outlined in the official notification.

This decision follows a recent surge in fuel prices, where the caretaker government had previously implemented a substantial hike, raising petrol prices by Rs13.55 per liter and High-Speed Diesel (HSD) by Rs2.15 per liter.

According to the finance ministry’s notification, the earlier increase of Rs13.55 elevated the petrol price to Rs272.89 per liter, effective from February 01. These adjustments reflect the ongoing challenges in the global oil market and the caretaker government’s efforts to manage the impact on the domestic economy.

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